Joseph Agius

NMLS#112040

Your Hometown Reverse Mortgage Consultant residing in Covina, California

Your Hometown Reverse Mortgage Consultant residing in Covina,
California

Licensed in AZ, CA

I'm proud to work for an innovative company committed to responsibly helping homeowners reshape their financial future by educating them on home equity solutions—and helping them unlock the power of their homes.

Your Starting Point to Reverse Mortgages

COMMON MISCONCEPTIONS

MYTH: Taxes have to be paid on money received from a reverse mortgage.

Nope! Proceeds from a reverse mortgage are not considered income, and are therefore not income taxable. The money from a reverse mortgage comes from your home’s equity, which already belongs to you, so it’s not considered income. Plus, the interest on a reverse mortgage can be tax-deductible when it’s repaid.*

MYTH: Your heirs can’t inherit the home with a reverse mortgage.

Nope! You will still be able to pass the home on to your kids. Just like any other mortgage, they can inherit the house. When the loan becomes due, they can decide how to repay the loan balance.

MYTH: Reverse mortgages should only be used as a last resort.

That’s incorrect! A reverse mortgage is a powerful financial tool that can be an important part of your overall financial plan. From paying off an existing mortgage to delaying Social Security benefits*, or even establishing an emergency line of credit, it’s a flexible product that gives you options.

MYTH: A reverse mortgage interferes with Social Security and Medicare benefits.

False! Government entitled programs such as Social Security and Medicare are generally not affected by a reverse mortgage – however, need-based programs such as Medicaid may be. Consult a qualified financial advisor or the appropriate government agency to learn more.

MYTH: Reverse mortgages are expensive.

Here’s the truth – reverse mortgage loan origination costs and interest rates are comparable to those of traditional mortgages. They do not require large out-of-pocket expenses. There are FHA insurance costs that some traditional mortgages don’t require, but the cost is relatively small.

MYTH: With a reverse mortgage, the bank takes your home.

That’s false! With a reverse mortgage, the homeowner keeps the title to the home in their name, provided they meet their loan obligations, keeping current with property taxes, insurance, and maintenance. The lender simply adds a lien onto the title to guarantee that the money will eventually be paid back when the loan becomes due.

Here’s what people like you are saying about us

Donald

Very Helpful and Friendly. Helped me set up an account and get answers to my questions. Great customer service.

Brian Howell

Now Two Very Positive Reverse Mortgages with Longbridge Financial. We had established our original reverse mortgage two years ago, and already had our new mortgage serviced by Longbridge. While we were completely pleased with our original reverse, we were contacted by Longbridge in September notifying us that with a continued downward trend in rates, there might be enough overall benefit to consider a refinancing. We did exactly that and couldn't be more pleased with our new reverse mortgage.

Laurel Burke

Everything Went Well. I got an increase in my monthly income plus cash and a line of credit. I'm very happy with the outcome.

Casey McLaughlin

Longbridge is a Courteous, Competent, and Thoughtful Company to work with. Great salespeople and customer service.

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Featured Video

How it Works

For many Americans, their home is their biggest asset, and the one they have invested the most in throughout their lives. And a Home Equity Conversion Mortgage (HECM), or "reverse mortgage," can allow senior homeowners to tap into some of this hard-earned home equity – for another source of cash to help fund retirement, counteract the effects of inflation, and live more comfortably. Important Note: When you click on this video, certain personal information may be sent to the video provider (such as YouTube, Vimeo, etc.). To learn more about our privacy practices, please review our Privacy Notice.

Additional Resources

Can You Get a Reverse Mortgage with Bad Credit?

How Much Money Could You Get from a Reverse Mortgage?

Are You a Good Candidate for a Reverse Mortgage?

About Me

Hello, I am your local Reverse Mortgage Professional. I am honored to be working with the senior community. I have several years of experience in the reverse mortgage space, focusing on Home Equity Conversion Mortgages and other home equity solutions. I am committed to helping seniors find better retirement solutions and am excited to bring my honesty, compassion and education to senior homeowners. I bring an in-depth understanding of the reverse mortgage process and how the loan works. Branch Address: 229 E Badillo St. Covina, CA 91724; Branch NMLS #: 2369412; Phone #: (949) 877-9291. Arizona Mortgage Banker License #0930082. Licensed by the California Department of Financial Protection and Innovation under the California Residential Mortgage Lending Act; Loans made or arranged pursuant to a California Financing Law license. For California consumers: For information about our privacy practices, please visit https://www.longbridge-financial.com/privacy.